Sustainable Development and Financial System: Perception on Socially Responsible Investing (SRI) in Commercial Banks of Sri Lanka

Abstract

Purpose: This study examines how the Sri Lankan commercial banks perceive socially responsible investing in relation to sustainable development and the financial system as compared to other developing countries. Design/Methodology/Approach: A qualitative research design was applied to conduct this study. Accordingly, the data were collected by interviewing 10 top-level Sri Lankan commercial banking professionals through a structured questionnaire in order to answer the main research questions. Findings: The findings revealed that the concept of socially responsible investing (SRI) is predominant in nature for the purpose of maintaining a balanced strategic economic service that has been delivered to clients, the economy, and the country's development. Furthermore, the outcomes of this study will be important for the growth of the banking sector in general and the sustainable development of Sri Lanka in particular. Originality: This study represents a significant effort for the top-level managers who engaged in strategic decision-making in their banking institutions in order to sustain the most qualitative SRI position that could be adopted with the country's regulating and operational background.